DeFi

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Decentralized Finance, DeFi for short, is a term used to describe the decentralized services and products made possible with the help of decentralized technology. Example of DeFi includes lending services, decentralized exchanges, marketplaces, stablecoins, derivative platforms and much more. Other entities in the ecosystem include infrastructure platforms, payment providers and custodians.

Decentralized finance is an upgrade of traditional financial systems, which are centralized and as a result of this centralization, prevents a lot of individuals from accessing financial services and contributing to the global economy. The primary advantage of DeFi products is its ability to cater to the unbanked and undocumented, which form the majority of the world’s population. Many Defi entities describe this as being the most salient feature of decentralized systems.

These open source financial initiatives is a key part in the growth of the crypto ecosystem, as several projects have built their services and products on reducing the trust involved in financial services. This is in contrast to “fintech”, which primarily focuses on new emerging systems that are beneficial, but centralized.

The DeFi ecosystem has been steadily growing since the launch of projects during the boom of 2017, and current statistics show the total value locked in the ecosystem to be roughly $471 million. Examples of platforms include the MakerDAO ecosystem, Augur, Bancor and the Kyber Network.

Given that decentralized finance tools is at its optimum with a greater number of users, multiple scaling solutions, such as second layer protocols, are being worked on - including the Lightning Network, which has been growing in usage over the past year. 

In this tag, read more about decentralized finance (DeFi) news, price predictions, opinions and analyses created by users.


3 Key Takeaways From Vitalik Buterin's Talk (KBW 2022)

12 Aug 2022 3 minute read 7 comments Krystal DeFi

Welcome to the first recap of Korea Blockchain Week 2022, which happened on 8th-9th August. One of the major talks was by Vitalik Buterin, the co-founder of Ethereum, who spoke about what would happen to Ethereum after The Merge. Here are the key ta...

With Regulators Coming, What Stablecoin Can You "Trust"?

11 Aug 2022 5 minute read 4 comments Michael @ CryptoEQ

If you want more cryptocurrency analysis, including full-length research reports, trading signals, and social media sentiment analysis, use the code "Publish0x" when subscribing to CryptoEQ.io to make your first month of CryptoEQ just $10! Or simply...

Ethereum consensus layer is constantly under attack, F2Pool have been doing this for the last 2 years

14 Aug 2022 4 minute read 17 comments Patch

The BIS report that came out earlier this year highlighters some alarming problems regarding mining, and how miners could exploit their position and first-hand information to manipulate the market. It was theorized that 1 in 30 blocks mined was manip...

SpiritSwap V2 Review

13 Aug 2022 5 minute read 2 comments paragism

Fantom has posted extraordinary growth in DeFi TVL in the last year and SpiritSwap is one of the most successful projects on Fantom. With its focus on providing a seamless user experience and friendly interface, the DEX quickly became a go-to investm...

CryptoPunks NFT news, you can now own parts of a CryptoPunks

12 Aug 2022 1 minute read 4 comments Patch

If you missed the CryptoPunks train when it left the station, getting back on has proven to be a very, and I do mean very, expensive affair. As CryptoPunks is as far as I know the only other NFT project to truly rival BAYC´s popularity and high price...

Is Thorchain (RUNE) Safe to Use Yet?!

9 Aug 2022 3 minute read 1 comment Michael @ CryptoEQ

If you want more cryptocurrency analysis including full-length research reports, trading signals, and social media sentiment analysis, use the code "Publish0x" when subscribing to CryptoEQ.io to make your first month of CryptoEQ just $10! Or simply...

Celsius, Hodlnaut, Voyager. Millions of customers realizing not your keys, not your coins, while CFO to be paid $92K USD monthly.

8 Aug 2022 4 minute read 20 comments Netzien

Hello friends, Wow, the news from Celsius, Hodlnaut, and Voyager - is stunning, upsetting, and sad. People are learning fast, not your keys, not your coins. Look, blockchain technology is not going anywhere. However, neither are scammers, bad-decisio...

Update on my two most "degen" crypto investments

13 Aug 2022 5 minute read 1 comment CryptoMasterMiner

After my birthday in April I got the urge to get more degen. In mid-April I wrote and article titled I've Become a DeFi Degenerate and the journey began. I was pretty worried about the rabbit hole that I was going into, but after getting involved wit...

ChainPort Fee Mechanism V1 Goes Live

7 Aug 2022 2 minute read 2 comments Melusine

By Maximiliano Stochyk Duarte Hello ChainPorters, We’re proud to announce that the V1 version of ChainPort’s fee mechanism is now live! Every port using ChainPort’s cross chain bridge will now include a minimal fee of 0.3% of the total value per por...

Fake crypto apps, the scammers new favorite tool. How to spot them

8 Aug 2022 2 minute read 14 comments Patch

The crypto scammers appeared to have evolved yet again. Now they seem to have moved on and developed a new way to scam people. With fake crypto apps on your phones. Here are some tips on how to spot a fake app. Where do you find the apps The fake cr...